Robotics and Automation, Forecasting a Better Tomorrow for Indian Startups
Few ingenious brains to resolve our hardships tweaked the available technology and put forth Robotics in the limelight by inventing machines that help us.
How did we get here and where are we going?
Robots and thinking machines have long been a science fiction fantasy, but has now tuned into reality.
In early 1940’s the first automation technique began to show up in factories to speed up the production and obtain efficient yield. Back then, machines were decades away from working like a person. From the start till now machines have evolved remarkably in ability to think for themselves. Perhaps, the major shift in Robotics industry happened when the Stanford University came up with Stanley and the cars began to drive themselves. Since then AI, automation and other technologies are exploding.
Now, we dwell in the era of self driving vehicles, robots working by our side and we rely on digital assistance. Artificial senses and automation technologies are appended to every aspect of modern life. This is not the end, Robotics has potential future. With all this, the world is already trying to figure out the big question. Will robots make our life better or replace us entirely? Will it extend human skills or make them obsolete?
While one half of the world is getting excited about this burgeoning sector the other half is worried about the jobless future. It’s a true fact that some of the most cutting edge autonomous robots can completely do what a human can do!
The impact of artificial intelligence and robotics on employment opportunities have always been a topic of speculation. Research are taking place is diminish the fear. A report generated by Gartner suggests that by 2020, AI & Robotics would generate an estimated 2.3 million jobs globally. This was calculated by taking into account the 1.8 million jobs made simpler by automation.
Focusing on India
Well, India too is taking stride for path of automation using robots. USA, UK, Japan Germany and China are way ahead of India; however, India is expected to grow faster. At present, the country has understood that the speed, consistency and accuracy of automated machines cannot be matched by humans. Moreover, realization on the power of robots to work in danger zones is triggering scientists to build fire proof robots and unmanned vehicles to help the military forces.
With combined efforts of the Government & various industries, the industrial robotics can grow in India and shoot the nation into a fast paced journey of unprecedented progress and development.
Effect on Startups
The field is picking up the trend across various sectors and grabbing the attention of business ecosystem. As a result, many startups are employing robotics in order to optimize the production process and provide products worth the value. This is improving the economic life of companies which in turn results in global development. In accordance with this, a marketing report by BIS (Bureau of Indian Standards) Research estimates the Indian robotics market to expand at a compound annual growth rate (CAGR) of 20 percent by 2025 and hit the size of $350 million, compared with $64.9 million in 2016. It also predicts that the global market would expand at 12 percent to touch $12.6 billion, against India’s 20 percent rate during the same period.
It is also changing the nature of businesses by upgrading the operating methods of startups. However, the startups are gaining stunning progression by employing this exciting technology.
Initiatives To Promote Robotics:
•Since Robotics looks notably futuristic it is gaining popularity among students too.In accordance with this, the Govt has established Atal Tinkering Laboratories across schools in India, in order to simulate creative ideas and imagination on building practical in students.
• Following the above concern, the Union budget-2019 plans to improve the skills of young minds in fields like AI, Bigdata and Robotics along with its focus on MSMEs and SMEs. The Finance Minister NirmalaSitharaman proposed allocation of INR 400cr for world’s class higher education that promotes all potential technologies.
•Kochi based Maker Village is another initiative which is supporting hardware and robotics focused innovation by setting by labs and centers that offers required infrastructure for startups in this niche space.
•AICRA (Council for Robotics & Automation) was ventured to build an ecosystem that assists development of AI and robotics in the country. This is setting up standards among various industries by educating them to foster employment of these revolutionary technologies.